Lisa Smith

Notice of Right to Cancel

You, the owner, may cancel this transaction without any penalty or obligation within three business days from Date contract is signed.

If you cancel, any property traded in, any payments made by you under the contract or sale, and any negotiable instrument executed by you will be returned within 10 business days following the contractor’s receipt of your cancellation notice.

To cancel this transaction, mail or deliver a signed and dated copy of this cancellation notice, or any other written notice, or send a telegram to [Contractor Name] at [Contractor Address] no later than midnight of [Date, three business days after contract signing].

Cancellation of Agreement by Owner after Right of Rescission

If the Owner cancels this agreement after the mandatory three (3) business-day rescission period has expired and prior to the commencement of construction, the Contractor is entitled to retain or receive compensation for all expenses incurred up to the cancellation date. This includes, but is not limited to, the following:

• Costs for plans, specifications, and permits
• Engineering and design fees
• Labor costs for project management, scheduling, and administrative tasks
• Material restocking fees or costs for custom materials already ordered
• A pre-agreed-upon sum for liquidated damages to compensate for lost profit and business costs

Cancellation Notice and Procedure

Any cancellation by the Owner must be submitted in writing via certified mail to [Contractor Address] or by email to [Contractor Email]. The effective date of the cancellation will be the postmarked date or the date the email is sent.

Payment of Cancellation Fees

In the event of cancellation, the Owner agrees to pay the Contractor the cancellation fees as outlined above. Any initial deposit will be applied toward these costs. If the deposit does not cover all expenses and fees, the Owner will be billed for the remaining amount, payable within [number] days of receiving the final invoice.